Coinbase Launches Its Own Ethereum Layer-2 Blockchain Base
Coinbase, the largest US-based cryptocurrency exchange, has launched its own public crypto network called Base. This makes Coinbase the first publicly traded company to launch its own public blockchain. Base was previously available in a limited-access version for developers, but is now fully open to the public. Already, there are over 100 decentralized applications (dApps) running on Base. Coinbase sees Base as a new revenue stream opportunity, not just from the blockchain itself, but also from the dApps built on top of it. To celebrate the launch, Coinbase is hosting an “onchain festival” with various brands participating.
Key Points:
– Coinbase’s Base is now fully open to the public, becoming the first publicly traded company to launch its own public crypto network.
– Over 100 dApps are already running on Base.
– Coinbase views Base as a new revenue stream opportunity.
– An “onchain festival” is being held to celebrate the launch, with brands like Coca-Cola participating.
– Base is already the 5th largest layer-2 scaling solution by total value locked, with $140 million worth of crypto locked in its smart contracts.
Hot Take:
Coinbase’s launch of its own Ethereum layer-2 blockchain, Base, is a significant move that showcases the company’s ambition to drive crypto adoption beyond speculation. By providing a platform for developers to build decentralized applications, Coinbase aims to integrate crypto into people’s day-to-day lives. The impressive growth and value locked in Base’s smart contracts demonstrate its potential to compete with other layer-2 solutions. This launch not only expands Coinbase’s revenue opportunities but also contributes to the broader Optimism ecosystem. As Base continues to gain traction, it has the potential to revolutionize the crypto industry.
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